The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
0907 ET - Grains futures are lower with corn leading the way down 1.2% on CBOT. Slightly better-than-expected crop ratings and Monday's weak close are weighing on prices, with corn starting to correct from overbought, Doug Bergman of RCM Alternativessays in a note. Still, "the U.S. and global supply outlook is tightening with this morning's pull-back viewed as healthy for now," he adds. Soybeans are off 0.6% and wheat is down 0.4%. (anthony.harrup@wsj.com)
0834 ET - U.S. natural gas futures continue under selling pressure with inventories well above average and LNG demand softer due to terminal maintenance. The U.S. natural gas market remains focused on summer weather to drive demand, with little near-term benefit from the rise in global prices brought on by escalation in Middle East conflict. "Notable weather weakening over the past 24 hours for weeks 2 and 3-particularly over the central and eastern U.S.--may further undermine physical support in late July," Eli Rubin of EBW Analytics says in a note. Nymex natural gas is down 1% at $2.868/mmBtu. (anthony.harrup@wsj.com)
0747 ET - Oil futures add to yesterday's gains as the U.S. continues military strikes against Iranian targets and Iran attacks vessels crossing the Strait of Hormuz. "I believe we are now in a round of negotiating under fire, following the failure at the table after the signing of the recent Memorandum of Understanding," Samer Hasn, senior market analyst at XS.com says in a note. A return to a ceasefire with more precise language concerning management of the Strait of Hormuz isn't unlikely, he says. But President Trump's assertions that the U.S. will charge a 20% fee on cargos crossing the strait to cover costs of protection "cannot be taken seriously because they are completely unrealistic." WTI is up 2% at $79.72 a barrel and Brent is up 3.3% at $86.04. (anthony.harrup@wsj.com)
0608 ET - Palm oil ended higher. Overnight strength in rival oils due to escalating U.S.-Iran tensions, concerns over a potential super El Nino and palm oil's discount to soybean oil may have underpinned demand, Kenanga Futures writes in a note. The Bursa Malaysia Derivatives contract for September delivery rose 40 ringgit to 4,573 ringgit a ton. (kimberley.kao@wsj.com)
0410 ET - Gold prices rise as the crude rally reinforced inflation concerns, though the U.S. dollar steadied as investors await key inflation data this week. In early trading, New York futures are up 0.5% at $4,024.90 a troy ounce. "Gold remains vulnerable around the $4,000/oz level, with the market closely watching developments around the Strait of Hormuz and their implications for energy prices, inflation and interest rates," ING analysts say. Attention now turns to U.S. CPI data and Federal Chair Kevin Warsh's testimony before Congress. (giulia.petroni@wsj.com)
2250 ET - Palm oil rises in early Asian trading, driven by stronger overnight soybean oil prices on the Chicago Board of Trade as well as higher crude oil prices, says David Ng, a trader at Kuala Lumpur-based Iceberg X. Renewed Middle East tensions are dampening sentiment across energy markets and spilling over into the palm oil market, he adds. Ng expects prices to face resistance at 4,650 ringgit a ton and find support at 4,500 ringgit a ton. The Bursa Malaysia Derivatives contract for September delivery is 35 ringgit higher at 4,568 ringgit a ton. (yingxian.wong@wsj.com)
2250 ET - Copper edges lower in Asian trading, with the three-month LME copper contract down 0.1% at $13,523.00 a ton. Prices are likely to stay rangebound in the near term, supported by rising Middle East tensions, Nanhua Futures analysts say in commentary. The U.S. continued with strikes on Iran following President Trump's announcements of a multiday wave of attacks and a fresh blockade on Iranian trade in the Strait of Hormuz. Higher oil prices on renewed fighting could accelerate inflation, pressuring the Federal Reserve's rate trajectory. (tracy.qu@wsj.com)
2151 ET - Iron ore prices are higher in early Asian trading, after closing lower in the previous session. The most-traded iron ore contract on the Dalian Commodity Exchange rises 0.9% to 754.0 yuan a ton. However, the metal's medium-term outlook is becoming increasingly challenging, as surplus conditions are likely to emerge, Westpac economists say in a report. Supply-side pressures are building, as new low-cost output from Guinea's Simandou project enters the market. Persistently high inventories in China and softer global steel demand are also expected to pressure prices. (amanda.lee@wsj.com)
2033 ET - Gold falls in early Asian trade. A broad rise in global bond yields is likely weighing on the precious metal, says Eleonex's Stefan Arsenovic in an email. Renewed Middle East tensions likely drove up oil prices and stoked inflation concerns, reinforcing expectations of a more restrictive monetary policy. Investors are likely to focus on the coming U.S. inflation and labor market data, alongside commentary by Federal Reserve officials, as these could influence monetary policy expectations, he adds. Spot gold slips 0.2% to $3,992.90 an ounce. (megan.cheah@wsj.com)
1926 ET - The addition of the Lowry ore reserve to Sandfire Resources' Black Butte copper deposit in the U.S. makes the asset more likely to be put up for sale, Jefferies says. Sandfire unveiled a maiden reserve of 4.7 million tons at Lowry. That extends Black Butte's mine life by four years, which is in line with Jefferies's expectation. "However, we believe the asset's modest scale and Sandfire's more attractive development opportunities increase the likelihood of divestment which has the potential to monetize strategic importance not reflected in our valuation," analyst Mitch Ryan says. Sandfire appears likely to prioritize the Kalkaroo project in South Australia. (david.winning@wsj.com; @dwinningWSJ)
1836 ET - Regis Resources walks away from its planned takeover of Vault Minerals in a position of fiscal strength, says Citi analyst Jack Whelan. The gold miner is debt free, with A$1.2 billion in cash and bullion. It has options for growth via McPhillamys and its Duketon and Tropicana portfolio, Whelan says. Withdrawing after a rival bid for Vault from Genesis Minerals is a logical outcome, he says. A tie-up of Genesis and Vault will benefit from the proximity of Genesis's Tower Hill project to Vault's King of the Hills mill. That is "a structural advantage that RRL simply could not replicate, making a value-accretive counter difficult to construct," Whelan says. Shares in Regis ended Monday down 0.9%, at A$6.46. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
1520 ET - U.S. natural gas futures fall for a fourth straight session with the market weighed down by a large storage surplus and lower LNG demand due to maintenance at Freeport LNG. "While we don't see major downside from here, at least compared with upside possibilities when looking out toward month end, a healthy 185 Bcf storage surplus is keeping sellers in control for now," Ritterbusch & Associates says in a note. However, "we still see enough summer remaining for another hot spell combined with any early hurricane activity capable of strengthening the fall/winter portion of the gas curve again." Nymex natural gas for August delivery settles down 1.5%at $2.897/mmBtu. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
July 14, 2026 09:15 ET (13:15 GMT)
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